MD SB855 | 2016 | Regular Session
Status
Spectrum: Moderate Partisan Bill (Democrat 4-1)
Status: Introduced on February 5 2016 - 25% progression, died in committee
Action: 2016-03-08 - Hearing 3/08 at 1:00 p.m.
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on February 5 2016 - 25% progression, died in committee
Action: 2016-03-08 - Hearing 3/08 at 1:00 p.m.
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]
Summary
Requiring a reverse mortgage lender to establish an escrow account for the payment of property taxes and insurance; requiring the escrow account to be established in accordance with specified provisions of law; requiring the escrow account to allow for monthly collection and deposit of funds; and applying the Act prospectively.
Title
Commercial Law - Reverse Mortgages - Escrow Accounts
Sponsors
| Sen. Delores Kelley [D] | Sen. Brian Feldman [D] | Sen. Stephen Hershey [R] | Sen. Katherine Klausmeier [D] |
| Sen. Thomas Middleton [D] |
History
| Date | Chamber | Action |
|---|---|---|
| 2016-03-08 | Senate | Hearing 3/08 at 1:00 p.m. |
| 2016-02-05 | Senate | First Reading Finance |
Subjects
Commercial Law - Credit Regulation
Escrow Accounts
Financial Institutions
Insurance
Mortgages
Property Tax
Escrow Accounts
Financial Institutions
Insurance
Mortgages
Property Tax
